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Budget sequestration took effect at midnight on March 1, 2013, as congressional leaders were unable to broker an 11th-hour deal to prevent it from kicking in. The Pentagon, facing up to the possibility of no deal, has been hoarding cash since mid-January 2013, repeatedly warning that it can't absorb the sequestration cuts without profound effects on the military, especially on readiness. Here, senior Pentagon leaders, including the service Chiefs, testify before the Senate Armed Services Committee on sequestration's effects, Feb. 12, 2013. Air Force Chief of Staff Gen. Mark Welsh is on the far right of the witness table.